PACW, WAL trade up with FRC
3/21/23 12:30 PM ET (Briefing.com)Print
Recent trading had the main indices chop around fairly narrow ranges.Several recent embattled regional bank stocks are showing strong gains today in solidarity with First Republic Bank (FRC 17.00, +4.80, +39.3%), which trades up on reports it is considering strategic alternatives, including a possible sale. PacWest Bancorp (PACW 11.80, +1.52, +14.8%) and Western Alliance Bancorp (WAL 34.53, +5.32, +18.2%) are among the top winners from the space. Energy complex futures are clawing back some lost ground today. WTI crude oil futures are up 1.5% to $68.83/bbl and natural gas futures are up 0.3% to $2.34/mmbtu.